Enforcement Statistics up to December 31, 2017

1. Number of Entities subject to Enforcement by the Financial Intelligence Unit of Trinidad and Tobago

Sector

Number of Entities subject to Enforcement

Attorney-at-Law

8

Accountant

8

Art Dealer

17

Cooperative Credit Unions

194

Gaming/Pool Betting

5

Jeweller

47

Motor Vehicle Sales

134

Private Members' Club

85

Real Estate

95

Trust and Company Service Provider

5

National Lotteries Online Betting Games

1

Money Value Trust Services

0

Other Financial Institutions

47

Postal Services

1

TOTAL

647

2. Enforcement Action was initiated for breaches in four (4) categories of AML/CFT obligations.

Type of Deficiency →

Failure to Register

Failure to Submit Quarterly Terrorist Property Report

Failure to Rectify Deficiencies Identified at a Compliance Exam

Failure to appoint and seek approval for a CO and ACO

TOTAL

Number of Entities →

395

205

38

9

647

3. Response from Enforcement Action

(a) Positive Responses

Type of Deficiency →

Failure to Register

Failure to Submit Quarterly Terrorist Property Report

Failure to Rectify Deficiencies Identified at a Compliance Exam

Failure to appoint and seek approval for a CO and ACO

TOTAL

Number of Entities →

313

160

21

3

495

(b) Directives

One Hundred and Twenty-Six (126) entities were issued with Notices to appear for a FIU hearing pursuant to section 18H FIU Act. Eighty (80) Directives were issued in total. Thirty-Three (33) Directives have been issued for failure to register with the FIU and for AML deficiencies subsequent to a compliance examination. Forty-Seven (47) Directives were issued prior to the legislative amendment of the Financial Obligations Regulations in 2014 for failure to submit a Compliance Programme.